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they think we could find compromise. and we're also watching the situation in the middle east. israel launching a major offensive against palestinian militants in gaza. israeli aircraft tanks have pounded the coastal strip. in response more than 100 rockets have been fired. martin fletcher will join us with the latest. oil prices off by about nine cents. crude oil at this point 86.23. steve, a lot of ground to cover and you have more of our other headlines, as well. thanks for being here. >> good to be here. china's ruling communist party unveiling its new leadership team today. vice president xi jinping taking over from hu jintao. he'll head a team of seven members in the new politburo standing committee compared to nine. they'll have to tackle everything from social unrest to issues with domestic and global economics. back here in the u.s., reports from walmart and target. at 8:30, we get weekly jobless claims. october consumer price index. and the november empire state survey. in corporate news, bp expected to pay a record u.s. criminal penalty and plead guilty to criminal miscondu
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